PharmaSGP continues dynamic growth path in the first half of 2024
Gräfelfing, September 12, 2024 – The German OTC pharmaceutical company PharmaSGP Holding SE continued its dynamic growth path in the first half of 2024, achieving half-year revenues of €58.4 million based on preliminary, unaudited figures. This represents an increase of 17.4% compared to the previous year (€49.7 million). Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) increased from €15.3 million to €16.9 million in the first half of 2024 compared to the same period of the previous year. The resulting adjusted EBITDA margin amounted to 28.9% (previous year: 30.9%).
CEO Natalie Weigand comments: “We can look back on a successful first half of 2024 with record revenues. Once again, we were able to benefit from the strength of our business model, combining our scalable platform with our multi-channel marketing approach. The appointment of Peter Gerckens to the PharmaSGP Management Board was a further significant step in accelerating our growth path. As Chief Commercial Officer, he is responsible for the expansion of international markets, sales and new businesses since July 1, 2024.”
CFO Michael Rudolf adds: “We are on track to achieve our growth targets for the full year 2024. PharmaSGP is particularly focused on the internationalization of our business. In this context, we are very pleased with the development in our key growth market Italy, where we almost doubled revenues in the first half of 2024. This highlights the effectiveness of our sales strategy and shows the great market potential for PharmaSGP beyond the DACH region.”
For the current financial year 2024, the Management Board continues to expect revenues in the range of €107.0 million to €112.0 million. Adjusted EBITDA is projected to increase to between €35.0 million and €38.0 million. This corresponds to an adjusted EBITDA margin of 32.7% to 33.9%.
PharmaSGP will publish its full report for the first half of 2024 on September 26, 2024.
OVERVIEW OF PRELIMINARY YEAR-ON-YEAR FIGURES
| Consolidated figures (in € million) |
H1 2024 |
H1 2023 |
∆ |
| Revenues |
58.4 |
49.7 |
+17.4% |
| Adjusted EBITDA |
16.9 |
15.3 |
+10.2% |
| Unadjusted EBITDA |
16.8 |
15.4 |
+9.2% |
| Adjusted EBITDA margin |
28.9% |
30.9% |
|
| Unadjusted EBITDA margin |
28.9% |
31.0% |
|
| |
|
|
|
| Revenues by region (in € million) |
H1 2024 |
H1 2023 |
∆ |
| Germany |
39.6 |
37.2 |
+6.6% |
| Italy |
11.1 |
5.7 |
+95.5% |
| Austria |
6.1 |
4.8 |
+25.2% |
| Other European countries |
1.6 |
2.0 |
-21.3% |
| |
|
|
|
| Revenues share by region |
H1 2024 |
H1 2023 |
|
| Germany |
68% |
75% |
|
| Italy |
19% |
11% |
|
| Austria |
10% |
10% |
|
| Other European countries |
3% |
4% |
|
| |
|
|
|
| Revenues by product category (in € million) |
H1 2024 |
H1 2023 |
∆ |
| Health Brands |
56.2 |
47.6 |
+17.9% |
| Beauty Brands |
2.1 |
2.1 |
+3.3% |
| |
|
|
|
CONTACT
cometis AG
Claudius Krause
Phone: +49-611-20585528
Email: ir@pharmasgp.com
ABOUT PHARMASGP HOLDING SE
PharmaSGP is a leading consumer health company with a diversified portfolio of over-the-counter (OTC) pharmaceuticals and other healthcare products that are marketed with a focus on the pharmacy distribution channel. These products are mostly based on natural active pharmaceutical ingredients with documented efficacy and few known side effects.
The Company’s core brands cover chronic indications, including rheumatic pain, nerve pain and other age-related ailments. In Germany, PharmaSGP is the market leader for systemic chemical-free pain remedies with its brand families RubaXX® for rheumatic pain and Restaxil® for neuralgic pain. Furthermore, PharmaSGP also offers leading products against sexual weakness and vertigo symptoms. Since introducing the first product from the current product portfolio in 2012, PharmaSGP has successfully established its business model in other European countries, including Austria, Italy, Belgium, Spain and France. In September 2021, the product portfolio was expanded by the brands Baldriparan®, Formigran®, Spalt® and Kamol®, thus also strengthening or developing the indications pain and sleep disorder. The sales territory was expanded to include Switzerland and Eastern Europe. In 2023, PharmaSGP generated revenues of €101.1 million at an adjusted EBITDA margin of 33.7%.
In order to further expand its competitive position, PharmaSGP plans to increase the number of indications covered by PharmaSGP’s product offering, increase PharmaSGP’s European footprint, and accelerate its growth strategy especially by capitalizing on selected M&A opportunities.
